Top Insurance Companies in India 18 January 2019

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Top Insurance Companies in India: Insurance companies in India has shown incredible growth in the past few years. Due to this growth the craze of getting jobs in such companies is high in India. So, all the candidates who aspires to get job in this insurance company must surely know about  their sheer presence, growth as well as pioneering services, range of products, and overall financial achievements you must have exact knowledge of this companies.  So, the fallowing article will will surely help you to know about the leading Insurance Companies in India will help you to  know the Industry better.

Top Insurance Companies in India

The leading insurers in India are as follows:

• Life Insurance Corporation of India
• Tata AIG General Insurance
• Bajaj Allianz General Insurance
• New India Assurance
• ICICI Prudential Life Insurance
• IFFCO TOKIO General Insurance
• ICICI Lombard General Insurance
• Oriental Insurance
• Birla Sun Life Insurance
• HDFC Standard Life Insurance

LIC (Life Insurance Corporation of India)

LIC  (Life Insurance Corporation) is one of a biggest life insurer in India fully owned by the union government. It is a specialist in individual life insurance, pension plans, and group insurance plans. It has various sub-branches like

• Life Insurance Corporation of India International
• LICHFL Care Homes
• LIC Nepal
• LIC Housing Finance
• LIC Lanka

The organization more than 12 million policyholders and about 9 lakh agents all around the world. Till date, it has issued more than 120 million policies. A major reason behind LIC success is its adaptability. The LIC introduced to computers during 1964 and since then has to make use of information technology for serving its customers. It is also a profitable option when it comes to work opportunities, especially for sales agents who are provided training at par with international standards, and a lot of independence for working.

Tata AIG General Insurance

One of the main reasons behind the growth of Tata AIG General Insurance is its employees. The organization regards its employees as valuable assets and takes pride in the fact that it has one of the finest workforces in the general insurance industry.

Tata AIG General is seen as one of the major names in the general insurance sector of India.  The organization has recently won the 5th position among the top companies to work for in the financial services and banking sectors. This survey was done by PeopleStrong, a well-known HR consultancy, on behalf of Business Today.

One of the important reasons why employees loved working at Tata AIG was the growth and career opportunities afforded by the organization followed by the payment and other financial benefits. Tata AIG also offers various other benefits to their employees like:

• Performance evaluation
• Creating the proper balance between work and life
• HR initiatives
• Brand image
• Efforts made by managers to connect with the employees on a regular basis to make sure they are growing personally and professionally
• Competent process for performance management

Bajaj Allianz General Insurance

Bajaj Allianz General Insurance has the support of Allianz, which is one of the leading insurers of the world and Bajaj, which is among the top motorcycle manufacturers in India. Bajaj Allianz is leading name in the property insurance department.

Bajaj Allianz also offers a huge range of general insurance products and services by a network. The company has more than 200 offices across India. we have listed some of the areas of Bajaj Allianz where it operates:

• Auto
• Health
• Homeowners
• Travel
• Commercial

Majority of its yearly revenue of company comes from automotive insurance. The company was established in the year 2001 and from then has become one of the leading names in the general insurance sector.

New India Assurance

New India Assurance is one of the popular names in the Indian insurance industry.  Because of it ’s efforts in several areas such as satellite insurance. The company ample of offices in India as well as outside the country. At present, the organization has also expanded its wings outside India with offices outside India like Japan, Fiji, UK, Australia, and the Middle East too. The skill levels among the employees of the company are commendable. As the organization also has 1068 offices in India that are totally automated. It also has a good capital position and operating performance that have helped it achieving a strong position in the market.

ICICI Prudential Life Insurance

ICIC Prudential Life Insurance has a huge network comprising of more than 1900 branches, which includes 1074 micro offices and more than 210,000 advisers. It is one of the first life insurers to have received the AAA (Ind) National Financial Strength rating from Fitch.  From last three years, it has been voted the Most Trusted Private Life Insurer – a testament of its performance and growth over the years.

IFFCO TOKIO General Insurance

IFFCO TOKIO has a very good network consisting of 110 offices across the country and 51 Strategic Business Units. It is also the Singular insurer in India. The company has its owned distribution channel named IFFCO-TOKIO Insurance Services Ltd for helping its retail clients.

At present it operating in 350 odd towns with approximately 1400 employees. It is also the first insurers to have underwritten big policies for automobile and fertilizer companies. The policies are totally based on global rates and also provide a proper level of premium outflow to clients.

ICICI Lombard General Insurance

ICICI Lombard General Insurance operates is active in various domains such as general insurance, insurance claims management, reinsurance, and investment management etc. ICICI Lombard has risen to the top of the chart in a small time span. It is also the first India based organization to get ISO 9001:2000 official recognition. ICRA has given provided iAAA rating to an organization. For the highest level of capability when it comes to paying claims. It is also the first organization to have provided digitally signed documents through its web-based interface. ICICI Lombard has also been awarded many times for its functioning and quality of its products.

Oriental Insurance

Oriental Insurance is a well-known organization when it comes to rankings and has received top honors from some of the leading credit rating agencies of India. AM Best, an international rating agency has given it a B++ rating. The organization has 26 regional offices and  900 operating offices in India. Along with this the bank also functions in locations such as Nepal, Dubai, and Kuwait.

Birla Sun Life Insurance

Birla Sun Life Insurance has always been a leading contributor to the development and growth of India’s life insurance sector and is currently rated as one of the Top 5 private life insurers in the country. It is the first financial services to provide Unit Linked Life Insurance plans and free look facilities in India. It also provides individual as well as institutional clients.

HDFC Standard Life Insurance

HDFC Standard Life Insurance ( HDFC Life) is one of the famous names among the private enterprises functioning in India. It works in both group and individual insurance products. They also have sufficient financial capability to take care of long term investments in a resourceful and safe manner.

It has a credible presence in more than 700 towns and cities and has 568 branches. It has employed more than 2 lakh financial advisers for fulfilling customers requirements such as protection, investments, etc. HDFC also offers customized plans for the for its clients.

We hope that our article about Top Insurance Companies in India will surely help you.